Kiewit Gains Competitive Advantage Through Artificial Intelligence, Risk Intelligence, and Advanced Forecasting
GAINING COMPETITIVE ADVANTAGE THROUGH AI-ASSISTED FORECASTING
As one of the leading construction and engineering firms across North America, Kiewit has stayed ahead of the innovation curve by being an early adopter of construction management technology. This technology comes into play in one of the highest risks and most competitive areas for the company —before the construction begins. During the bid process, Kiewit must ensure that what is given to the customer accurately depicts the path toward a successful project. By using artificial intelligence (AI), risk intelligence (RI) and advanced cost/schedule forecasting better to calibrate its bids, Kiewit is quickly establishing and gaining competitive advantage. Instead of just applying standard percentage-based contingency and resultant margin amounts, Kiewit captures historical project data and performance benchmarks through AI and uses this data to objectively quantify the risk and reward on each project. This presentation discusses in detail Kiewit’s combined approach of AI and RI to reduce risk during execution and protect Kiewit from margin erosion.
Presented by Dan Patterson, Chief Design Officer at InEight.